Employees

The U.S. Department of the Treasury created myRA (my Retirement Account), a new retirement account, to help people save for retirement. myRA is a simple, safe, and affordable way to take more control of your future. Here are the top questions employees have about myRA.

What is myRA?

myRA is a new type of Roth IRA* – a popular retirement savings tool – that has been specifically designed by the U.S. Treasury to address many of the most common barriers to saving, such as fees and minimum initial contributions. There is no cost to you to participate, and myRA carries no risk of losing money. The account stays with you when you change jobs, and if you have more than one job, you can contribute to it through multiple employers. myRA has no minimum contribution requirement, which means you can contribute the amount you choose.* And best of all, it’s easy to set up and manage.

Who can sign up for myRA?

myRA could be a good option if you don't have access to a retirement savings plan through your job. myRA follows Roth IRA rules so it is generally available to anyone who earns an annual income of less than $129,000 a year for individuals and $191,000 for married couples filing jointly.* You can set up direct deposit into your myRA through your employer.

The U.S. Department of Labor is rolling out a number of improvements to its CareerOneStop Business Center site, including new videos and tutorials to help businesses train and retain employees. Employers can send their workers to the CareerOneStop for employees for information on learning new skills and certifications.

CareerOneStop's Business Center is a one-stop site for businesses looking to hire, train, or retain a strong workforce. It includes information, resources and online tools such as the Job Description Writer and a robust job bank.

The bite of winter is fast approaching, with some areas already covered in frosty white. While many workers will be earning a living indoors, plenty of people in the United States will be working outside in the coming months, often in bitter cold. Employers should be aware of the dangers, and plan accordingly.

Here are four things every employer should know in the winter:

1. What do I need to know about shoveling snow?

Shoveling snow can be a strenuous activity, particularly because cold weather can be taxing on the body, and can create the potential for exhaustion, dehydration, back injuries, or heart attacks.

The National Weather Service is warning much of the country about the polar vortex, an arctic air mass that is pushing much of the eastern and central U.S. down to record cold temperatures.

During this wave, workers are at increased risk of cold stress. Increased wind speeds can cause the air temperature to feel even colder, further increasing the risk of cold stress of those working outdoors, such as:

Getting health coverage for your small business for 2015 is easier than ever before. For the first time, you can use the SHOP Marketplace to enroll online for coverage that starts as early as January 2015. Learn more about how to enroll with this step-by-step guide.

Here are just a few benefits of buying coverage through the SHOP Marketplace.

Convenience: Find, compare, select and offer your employees coverage.

Choice: Choose among health plans at different coverage levels to find the one that’s right for you and your employees. In some states you can offer your employees a choice among all plans at the coverage level you choose.

Useful information and tools: Find out if you qualify for SHOP and what the small business health care tax credit might be worth to you. Then, find and compare plans before selecting one.

Access to tax credits: You may qualify for a tax credit worth as much as 50% of your contribution to employee premiums when you buy coverage through the SHOP Marketplace and meet other eligibility requirements.

Business is underway, and you’ve hired some help. You’ll need to take care of employees by making sure that the right tax forms are complete.

One-on-One Help from the Social Security Administration

Employers who need help with general wage reporting information can call the Social Security Administration’s Employer Reporting Service Center at 800-772-6270. For answers to more technical questions, employer service liaison officers are available around the country by calling 800-772-6270.

Other Services

FORM W-2 FILING INFORMATION

Each year, employers must send Copy A of each employee’s Form W-2, Wage and Tax Statement, with one Form W-3,Transmittal of Wage and Tax Statement, to the Social Security Administration by the last day of February (or last day of March if they file electronically) to report the wages and taxes of their employees for the previous calendar year.

Complete wage reporting information and all publications needed to meet their wage reporting responsibilities are now online on the Social Security Online website, Employer W-2 Filing Instructions and Information page.

Establishing a safe and healthful working environment requires every employer -- large and small -- and every worker to make safety and health a top priority. The entire work force -- from the CEO to the most recent hire -- must recognize that worker safety and health is central to the mission and key to the profitability of the American company.

Occupational Safety and Health Administration's (OSHA) job is to provide leadership and encouragement to workers and employers to take that responsibility seriously. We continue to help employers and employees focus on reducing injuries, illnesses, and fatalities and to increase their commitment to improved safety and health.

OSHA can help small businesses and others through a variety of tools, including partnership, consultation, compliance assistance, education and training, outreach, and plain language regulations.

Why is safety and health important for a small business owner like me?

Safety is good business. An effective safety and health program can save $4 to $6 for every $1 invested. It's the right thing to do, and doing it right pays off in lower costs, increased productivity, and higher employee morale.

As an employer, you have a duty to protect your workers from injury and illness on the job. Protecting workers also makes good business sense. Accidents and injuries are more expensive than many realize. Costs mount up quickly. But substantial savings in workers' compensation and lost workdays are possible when injuries and illnesses decline. The Occupational Safety and Health Administration (OSHA) can help you.

E-Verify is a fast, free, and easy to use web-based service run by the Department of Homeland Security (DHS) and the Social Security Administration that allows employers to verify the eligibility of their newly hired employees to legally work in the United States.

All employers are already required to complete and retain a Form I-9, the “Employment Eligibility Verification” form, for each person they hire in the United States. That includes citizens and non-citizens.

Who Uses E-Verify?

More than 353,000 employers, large and small, across the United States use E-Verify to check the employment eligibility of their employees, with about 2,500 new businesses signing up each week.

While participation in E-Verify is voluntary for most businesses, some companies may be required by state law or federal regulation to use E-Verify. For example, most employers in Arizona and Mississippi are required to use E-Verify. E-Verify is also mandatory for employers with federal contracts or subcontracts that contain the Federal Acquisition Regulation E-Verify clause.

Form W-2 Reporting of Employer-Sponsored Health Coverage

The Affordable Care Act requires employers to report the cost of coverage under an employer-sponsored group health plan. Reporting the cost of health care coverage on the Form W-2 does not mean that the coverage is taxable. The value of the employer’s excludable contribution to health coverage continues to be excludable from an employee's income, and it is not taxable. This reporting is for informational purposes only and will provide employees useful and comparable consumer information on the cost of their health care coverage.

Employers that provide "applicable employer-sponsored coverage" under a group health plan are subject to the reporting requirement. This includes businesses, tax-exempt organizations, and federal, state and local government entities (except with respect to plans maintained primarily for members of the military and their families). However, federally recognized Indian tribal governments are not subject to this requirement.

Transition Relief

For certain employers, types of coverage, and situations, there is transition relief from the requirement to report the value of coverage on the 2012 Forms W-2 (the forms for calendar year 2012 that employers generally are required to provide employees in January 2013). This relief will apply to future calendar years until the IRS publishes additional guidance. However, any guidance that expands the reporting requirements will apply only to calendar years that start at least six months after the guidance is issued. See the “Optional Reporting” column in the below chart for the employers, types of coverage, and situations eligible for the transition relief.